Not long ago, using data to super- charge your marketing efforts was seen as the next big thing.
Today, most association marketing professionals are using data to help shape and judge marketing
efforts. That leads us to the next big question: HOW are you using data?
Let’s start with the basics: your member data contains a vast array of insights that can tell you a lot about your operation. You will of course learn a lot about current members. But you should be able to glean a lot about past and potential future members, too. All of this can help you prioritize your marketing programs and create effective campaigns.
Breaking down how current members interact with your organization can help uncover useful trends. As they progress in their careers, are they consuming more of your educational content? If so, then this could point to outreach opportunities to members in similar places in their careers that have not been exposed to what you have to offer. By contrast, if you notice a decline in engagement, perhaps this is a sign that more needs to be done to keep these members connected.
These insights can help you add members, too. By developing a demographic and psychographic profile of an ideal member— one that is exhibiting maximum engagement with the association— you can target prospective new members. If you know when along the member journey your members are disengaging, you can adjust your new-member marketing away from similar prospects while you make appropriate adjustments.
Adding and keeping members is just one part of keeping an association thriving. Understating the value that those members generate is also key. A deep data dive can show you, on a member-by-member basis, the events they attend, supplemental services they pay for, and anything else they purchase that helps drive top-line revenue.
Understanding these trends will help you identify low-hanging fruit, such as up-selling and cross- selling opportunities, that can be targeted immediately. Gaining insight on how your programs are performing also has the added benefit of providing insight on what’s working and what’s not from a programmatic standpoint, giving you evidence that helps determine where best to invest resources to gain the most return from members.
Once you have a solid handle on member and prospective-member data, a logical extension is monitoring how your audiences interact with your content. Tracking direct actions, such as clicking on a link to sign up for a conference, is a no-brainer. But the analysis should go deeper, evaluating trends such as whether members are reading your marketing emails, or if prospects are responding to social media posts. Understanding how audiences are interacting with your content and marketing outreach, and how that interaction differs within audiences, will help you tailor marketing and communications efforts. For more on using content to engage with members, see our January 2019 issue of Member Centric.
Sold on the value of using data to drive your marketing outreach? Good! The first step is to understand where things stand right now—and if you have data, you can have that insight. Many of our clients are using a new service we’ve rolled out: MemberTrends.
Simply put, we take your data and run it through predictive models that generate insight on your member and prospective members’ activities. The results include basic metrics such as renewal rates and lifetime values, as well as more nuanced insights such as up-selling opportunities.
All of the information is delivered in a confidential report that provides high-level breakdowns, detailed analysis and a customized action plan that you can begin immediately.
Looking to get more insight from your data?
We can help!
Contact us at email@example.com and let’s get started.